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NEW YORK - Kolibri Global Energy Inc. reported a 3% increase in average production to 3,220 barrels of oil equivalent per day (BOEPD) for the second quarter of 2025 compared to the same period last year, despite several wells being temporarily shut-in during completion operations. According to InvestingPro data, the company appears undervalued based on its Fair Value analysis, with analysts maintaining a Strong Buy consensus and setting price targets between $10-11 per share.
The company posted net income of $2.9 million, or $0.08 per share, down from $4.1 million, or $0.11 per share, in the second quarter of 2024. The decrease was primarily attributed to lower revenues resulting from a 24% decline in average commodity prices.
Revenue, net of royalties, fell 22% to $10.8 million from $13.9 million in the prior-year quarter. Adjusted EBITDA decreased 23% to $7.7 million.
Production and operating expenses per barrel improved to $7.15 per BOE, down 16% from $8.48 per BOE in the second quarter of 2024, due to lower water hauling costs and natural gas processing cost adjustments. This operational efficiency has contributed to the company’s strong performance, with InvestingPro data showing a remarkable 95.48% total return over the past year, though investors should note the stock’s high volatility with a beta of 2.47.
The company reported that its recently completed Lovina wells started production in late July, with average 4-day production from the four wells ranging from 322 BOEPD to 643 BOEPD. Kolibri also began drilling two new wells and expects to bring a total of nine wells into production during the second half of 2025.
"We are pleased that the Company’s wells continued to perform well with average production of 3,220 boepd despite a 540 boepd reduction due to several wells that were temporarily shut-in during the quarter," said Wolf Regener, President and CEO, according to the company’s press release.
Kolibri also reported that it has repurchased over 207,000 common shares under its Normal Course Issuer Bid from April to July 2025 at an average price of $6.42 per share, bringing total repurchases to over 504,000 shares since September 2024.
As of June 30, 2025, the company had $34.5 million of available borrowing capacity on its credit agreement.
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